At the risk of being issued a free set of golden pompoms, I offer this....<ggg>
In regard to the FIRST chart posted,
stockcharts.com[d,a]daclynay[d20040913,20050913][pb50!b200!d20,2!f][iut!uj[$gold]!lb14!lp14,3,3!ll14!lk14][J58824301,Y]&listNum=2
I have a question. Why is the peak from mid-August, at 219.34, discounted? From this chair it looks like the series of declining peaks is as you have shown, #1 at 248.18, #2 at 227.18, but why isn't #3 at 219.34? What am I missing?
If one uses #1, #2 and the 'other" #3 [let's call it #3A] then the latest peak (#3 on the chart) is a higher high. Also I see a series of lower lows rising off of the BIG low of 165.71. This would be the classical definition of an up trend, no?
Next, how about constructing a trend line across the 3 peaks (#1, #2 & #3A. Isn't it "normal" to see a ralley pull back to a former down trendline and that trendline act as support?
How should one interpret the "seasonal" charts?
321gold.com
Slider, I appreciate your views, but I am struggling with the TA interpretation. Now I realize there may be flaws in my approach, so I am interested in learning where my logic fails and will appreciate your kind reply.
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